Existing mortgage, moving in with partner who has another mortgage.

luckysh0t

My partner split up with her ex and she is still in the flat with him paying the mortgage. Now I am moving in there is mutual agreement that myself and my partner will take over his mortgage for her flat. But meanwhile I'm about to rent out my own mortgaged home where I have lived up to now. Rental income will match the mortgage payments, but I'm looking to plan for the future here and treat my place as a retirement income in future. If we mortgage her flat ourselves (just about on my wages) is there anyway I can look to keep my own place & service it's mortgage (and any subsequent remortgages) with the rental income (currently matching pound for pound)?

Edi81

All depends on the numbers.

What are your incomes? Value of properties, outstanding mortgages, how much the ex wants for his share of the property.

Edi81

A few other points.
You are currently renting it out for the same amount as the mortgage.
Remember that only part of the interest element is tax deductible and the tax rules are changing. Being a landlord is not as easy as it used to be so needs to be thought through.

I’m sure other will be along with more.